Texas and the Future —
Challenges Ahead
State Budget
Budgeting for the 2010-11 biennium will present challenges to state
lawmakers.
The Comptroller's Biennial Revenue Estimate includes an estimated $77.1 billion
available for general purpose spending during the period, approximately $9.1
billion less than the 2008-09 biennium.
Water
The Comptroller's 2009 report, Liquid
Assets: The State of Texas' Water Resources, examines Texas' current
and future water resources, the practical and policy barriers facing
local and statewide water planners and possible funding mechanisms
that could be tapped to develop Texas' water resources. More than 46
million people could call Texas home by 2060, and failing to meet their
water demands could cost Texans and businesses $98.4 billion.
Energy
Texas remains at the forefront of the nation's energy industry. The
direction Texas takes in energy policy will help mark the path for the
nation. Texas – and the rest of the world, for that matter – almost certainly
will meet future energy demands using a wide variety of resources, and
our state must be informed to ensure it remains well positioned to benefit
from the increasing diversification of the nation's energy portfolio.
This issue is covered in-depth in the Comptroller's 2008 Energy
Report.
Texas Work Force
The Comptroller's December 2008 report, Texas
Works, examines the changing Texas job market and the growing
shortage of workers with the technical skills required for many of
the state's fastest growing jobs. The report details the offerings
of community and technical colleges to fill those educational needs,
but also explores the fact that too many Texas high school students
fail to pursue postsecondary education.
Economic Outlook
The following table provides
key measures of the state's economic outlook. Gross State Product
is a measure of the total value of goods and services produced
in Texas. Nonfarm Employment represents the number of jobs in
the economy, not including jobs relating to the farming industry.
Texas Economic Outlook for Fiscal 2009 through 2011
| |
2009 |
2010 |
2011 |
Gross State Product
(Billions, Current $) |
1,245.9 |
1,280.9 |
1,354.2 |
| Annual Percent Change in Gross State Product |
4.2 |
2.8 |
5.7 |
Nonfarm Employment
(Thousands) |
10,537.3 |
10,637.6 |
10,889.4 |
| Annual Percent Change in Nonfarm Employment |
0.0 |
1.0 |
2.4 |
Resident Population
(Thousands) |
24,710.4 |
25,236.9 |
25,779.3 |
| Annual Percent Change in Resident Population |
1.8 |
2.1 |
2.1 |
|
